OneSpan Inc. — Director's Dealing 2012

Dec 7, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VASCO DATA SECURITY INTERNATIONAL INC (VDSI)
CIK: 0001044777
Period of Report: 2012-12-06

Reporting Person: CULLINANE MICHAEL P (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-06	Common Stock, $0.001 par value	S	400	$7.50	Disposed	122494	Direct
2012-12-06	Common Stock, $0.001 par value	S	200	$7.51	Disposed	122294	Direct
2012-12-06	Common Stock, $0.001 par value	S	200	$7.52	Disposed	122094	Direct
2012-12-06	Common Stock, $0.001 par value	S	100	$7.54	Disposed	121994	Direct
2012-12-06	Common Stock, $0.001 par value	S	183	$7.55	Disposed	121811	Direct
2012-12-06	Common Stock, $0.001 par value	S	200	$7.56	Disposed	121611	Direct
2012-12-06	Common Stock, $0.001 par value	S	600	$7.57	Disposed	121011	Direct
2012-12-06	Common Stock, $0.001 par value	S	1000	$7.58	Disposed	120011	Direct
2012-12-06	Common Stock, $0.001 par value	S	800	$7.59	Disposed	119211	Direct
2012-12-06	Common Stock, $0.001 par value	S	600	$7.60	Disposed	118611	Direct
2012-12-06	Common Stock, $0.001 par value	S	200	$7.61	Disposed	118411	Direct
2012-12-06	Common Stock, $0.001 par value	S	200	$7.62	Disposed	118211	Direct
2012-12-06	Common Stock, $0.001 par value	S	200	$7.64	Disposed	118011	Direct
2012-12-06	Common Stock, $0.001 par value	S	200	$7.66	Disposed	117811	Direct
2012-12-06	Common Stock, $0.001 par value	S	100	$7.69	Disposed	117711	Direct
2012-12-06	Common Stock, $0.001 par value	S	100	$7.71	Disposed	117611	Direct
2012-12-06	Common Stock, $0.001 par value	S	307	$7.72	Disposed	117304	Direct
2012-12-06	Common Stock, $0.001 par value	S	200	$7.73	Disposed	117104	Direct
2012-12-06	Common Stock, $0.001 par value	S	300	$7.75	Disposed	116804	Direct
2012-12-06	Common Stock, $0.001 par value	S	110	$7.76	Disposed	116694	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option to Purchase Common Stock, $0.001 par value	$2.55	2014-01-20	Common Stock, $0.001 par value (20000)	20000	Direct

Footnotes

F1: Option vests 25% at the first quarter end following grant date and each quarter thereafter.